By Li Ruohan, Bai Yunyi and Xie Wenting
Beijing’s muddled response to a tumultuous 2018 exposed the myths of an ultra-powerful president running an economy inexorably destined for unstoppable growth.
Dr Yu Jie (Cherry)
While China is not about to recapture double-digit GDP growth, that does not imply economic catastrophe. After four decades of rapid growth, a slowdown was inevitable, and if China readjusts its macroeconomic policy stance, it can prevent that slowdown from being excessively sharp.
Yu Yongding, a former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006. He has also served as a member of the Advisory Committee of National Planning of the Commission of National Development and Reform of the PRC.
In principle, China’s massive savings, infrastructure know-how, and willingness to lend could be great for developing economies. Alas, as many countries have learned the hard way, Chinese development finance often delivers a corruption-filled sugar high to the economy, followed by a nasty financial (and sometimes political) hangover.
Ricardo Hausmann, a former minister of planning of Venezuela and former Chief Economist of the Inter-American Development Bank, is Director of the Center for International Development at Harvard University and a professor of economics at the Harvard Kennedy School.
Just as the Trump-Xi meeting at the G20 produced a glimmer of hope for mutual de-escalation, the US-China trade war has taken its ugliest turn yet.
C’est un exercice militaire d’envergure qui se prépare en Russie, dans le centre et l’Est du pays : « Vostok 2018 » devrait réunir près de 300 000 soldats entre le 11 et le 15 septembre prochain. Il s’agit de l’exercice le plus imposant depuis la fin de la guerre froide, a affirmé ce mardi 28 août le ministre russe de la Défense, Sergueï Choïgou. La Russie entend montrer ses muscles jusqu’en Asie, tandis que ses relations avec l’Europe sont mal en point et celles avec les États-Unis au plus bas. Alors que le Japon s’est récemment plaint du renforcement militaire russe en Extrême-Orient, la Chine, elle, participera à l’exercice.
Le point de vue de Arnaud Dubien
On September 3 and 4, Chinese President Xi Jinping will host the 7th Forum on China-Africa Cooperation (FOCAC) in Beijing. Happening every three years, past FOCAC’s have been used as a platform by Xi to announce new Chinese commitments to deepen economic links with the continent—in 2015, President Xi pledged $60 billion in aid and financing, and he has already recommitted the same amount again this year. Dozens of African leaders have made the trip to Beijing, with the aim of bolstering political and commercial ties with China. FOCAC, coupled with Xi’s trip to the continent in July 2018, is thrusting the question of how the United States should compete with China in African markets back in the spotlight.
Over the last couple of years Taiwan has been steadily haemorrhaging diplomatic allies. Countries from Africa, Central America and the Caribbean have switched allegiance to Beijing, leaving just 17 countries maintaining formal relations with Taipei. The largest bloc of such countries is in the Pacific, comprising Kiribati, the Marshall Islands, Nauru, Palau, Solomon Islands and Tuvalu.